There are three triggers for GF to exercise their call option, and they have about 5 buisness days to exercise after the trigger. Each trigger only happens once, then it's sterilised. The obvious first trigger was another offer for CDV going unconditional, which SG did. The market was all waiting for the news that the call option had been exercised after SG went unconditional, but it never came. Then SG went uncconditonally unconditional a second time as some wit here called it, after missing some clause buried deep in the BA, but again the trigger ws ignored.
So there are two remaining triggers for GF to exercise now. Nord get's 50.1% (as GF told hedrox I think on a Twitter response) and the third trigger is a "court approved Scheme of Arrangement".... what I'm banging on about. $50M is a lot of dsoh for GF to risk if they weren;t confident either Nord would get to 50.1% before SG, or a scheme would be approved down the track. Most here should be ble to join the dots...
CDV Price at posting:
$1.07 Sentiment: None Disclosure: Held
